London Arbitration 10/13

Contract – Consensus ad idem – Whether parties concluded contract of carriage – Whether document headed “Letter of Intent” was a contract – Arbitration – Jurisdiction

The issue in this arbitration was whether the parties had concluded a contract, containing a London arbitration clause, whereby the respondents undertook to procure the ocean carriage of 200 commercial vehicles from the country of manufacture in consideration of the payment of ocean freight of US$510,000.